Mike McGlone, a senior analyst at Bloomberg, has warned that Dogecoin (DOGE) could play an unexpected role in the collapse of financial markets. He believes that even if the market value of this meme coin drops by 99.9%, its price will still exceed its real value. The connection between Dogecoin and Bitcoin (BTC) and gold is one of McGlone’s main concerns. According to him, Dogecoin’s price fluctuations can affect assets like Bitcoin and gold, which are usually considered safe-haven assets. While Bitcoin has been stabilizing around $82,812 and Dogecoin is trading at $0.16 with a downward trend, gold has reached a new price ceiling by surpassing $3,000. Analysts attribute the increase in gold prices to geopolitical tensions and concerns about US economic policies. The reverse trend of gold and Bitcoin indicates a potential shift in demand from high-risk assets to safe-haven assets, which could impact the future of financial markets. McGlone has warned that if this trend continues, Bitcoin may plummet to $10,000. Given the uncertain economic and regulatory environment, McGlone suggests that Dogecoin, as a symbol of speculation in the cryptocurrency market, could be a factor in a future financial crisis. Investors are now questioning whether Dogecoin truly has such power or if McGlone’s warning is just overly pessimistic. You can view the prices of all tokens and cryptocurrencies live on the real-time price page of digital currencies.
